Motorola to buy video company BitBand

NEW YORK Mon Nov 16, 2009 8:44pm IST

Signage for Motorola is displayed outside their office building in Tempe, Arizona in this October 29, 2009 file photo. REUTERS/Joshua Lott/Files

Signage for Motorola is displayed outside their office building in Tempe, Arizona in this October 29, 2009 file photo.

Credit: Reuters/Joshua Lott/Files

Related Topics

NEW YORK (Reuters) - Motorola Inc on Monday said that it would buy privately held BitBand, an Israel-based video-on-demand technology provider, to expand its home video business.

Motorola said it would integrate BitBand into its Home and Networks Mobility unity, for which the company has reportedly been looking for a buyer willing to pay $4 billion to $5 billion.

Motorola, which is losing money on its mobile phones business, did not disclose the terms of the BitBand deal. It expects to close the transaction in the current quarter.

BitBand provides Internet-based television technology to 60 operators in countries such as Holland, Italy and Russia, Motorola said.

Shares of Motorola rose 8 cents to $8.86 in morning trading on New York Stock Exchange.

(Reporting by Sinead Carew, editing by Dave Zimmerman)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

XBOX ONE LAUNCH

Reuters Showcase

New Device

New Device

Facebook's Oculus unveils new virtual reality prototype device.  Full Article 

Slow Rollout

Slow Rollout

Los Angeles iPad rollout for schools slowed by technical challenges - report.  Full Article 

CEO Watch

CEO Watch

When music stops for Oracle CEO dance, Catz may grab Ellison's chair - analysts.  Full Article 

New iPhones

New iPhones

Apple faithful line up for latest, larger iPhones  Full Article 

Cutting Jobs

Cutting Jobs

Microsoft lays off 2,100 as part of earlier job cut plan.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage